Michigan State University

Hacking Blockchain

Benjamin Hall

Blockchain’s burgeoning popularity in the business world has attracted a lot of attention, but Blockchain currencies have also attracted a lot of hackers.

Cybersecurity firm CipherTrace estimates that the theft of digital currencies through the hacking of exchanges and trading platforms in 2018 amounts to $927 million. In September, hackers stole an estimated $59 million from Japanese cryptocurrency exchange Zaif. According to Reuters, Crypto exchange hacks are already 250% higher than throughout all of 2017.

"Increased fraudulent activity and attention of hacker groups to cryptoindustry, additional functions of malicious software related to cryptocurrencies, as well as the significant amounts of already stolen funds signal that the industry is not ready to defend itself and protect its users." - Dmitry Volkov, CTO of Threat Intelligence at Group-IB

Read more about crypto tech crimes, the case for Blockchain schemas in health care, and peruse the first peer-reviewed journal on Blockchain via The New Digital Economy research guide.

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